The next big business trend that we are going to see, and that is happening already, is not only that aboriginal businesses are going to be stronger components of the corporate supply chain, but we are also going to see them as stronger proponents of equity positions and actual partners within resource projects.

JP Gladu of the Canadian Council for Aboriginal Business discusses native participation in resource industries...Read More

A company with a number of front-running projects in the Athabasca Basin vying for flagship status, ALX Uranium TSXV:AL announced another round of drilling has begun at Gibbon’s Creek. The 13,864-hectare property on the Basin’s northern margin will get six to eight shallow holes totalling around 1,200 to 1,500 metres, according to the December 1 statement.

The campaign follows extensive work that included last winter’s drill results of 0.13% U3O8 over 0.23 metres within 333.8 ppm over 1.1 metres, starting at 106.8 metres. That intercept occurred in a gravity low about 500 metres south of the current target. Three other holes also returned uranium values while another found strongly anomalous geochemical pathfinders at the edge of the large radon anomaly and gravity low targeted for this program, ALX stated.

The gravity low overlaps the 1,200-metre by 500-metre radon anomaly that’s returned some of the Basin’s highest radon measurements and coincides with a resistivity low. Previous air and ground EM surveys identified a central conductor within the gravity and resistivity lows.

With overburden about 15 metres deep and depth to the unconformity usually less than 70 metres, holes will reach less than 200 metres in depth. Work’s planned to take about three weeks.

The target area sits about three kilometres from a highway, near the community of Stony Rapids.

The news comes during an especially busy period for ALX, which was created with overwhelming shareholder approval for the combination of Lakeland Resources and Alpha Exploration. Last month ALX announced its intention to exercise a 100% option on the southern Basin’s Kelic Lake, thanks to preliminary drill results that warrant more drilling. The company also anticipates drilling at Newnham Lake, a 24,544-hectare property straddling the Basin’s rim east of Gibbon’s, after receiving positive gravity and radon results last month.

Additional highlights in the ALX portfolio include Carter Lake and Hook Lake, which together host about 15 kilometres of untested corridors on strike with the Patterson Lake South, Arrow and Spitfire discoveries. Other drill-ready targets in the Basin include Lazy Edward Bay, a 60% interest in Carpenter Lake and an 80% stake in Gorilla Lake.